NEW YORK, July 9 (Reuters) - U.S. stock index futures were
flat on Wednesday, suggesting that even a positive early read on
earnings was not enough to entice buyers after a sharp decline
from record levels.

* The S&P 500 is coming off its biggest two-day slump since
mid-May, with small-cap and "momentum" names - hyper growth
stocks largely in the Internet and biotech space - among the
biggest decliners. Despite heavy losses earlier this year, both
groups continue to be hit by charges that they are overvalued.

* Alcoa Inc rose 2 percent to $15.14 in premarket
trading a day after reporting second-quarter adjusted earnings
and revenue that topped expectations.

* While the former Dow component is not considered a
market-moving industry bellwether, the aluminum maker is
sometimes viewed as setting the tone for the season by dint of
being one of the first high-profile names out of the gate. Wells
Fargo & Co will report on Friday, while dozens of
closely watched companies, including numerous Dow components,
will come out next week.
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